Billionaire investor David Rubenstein has expressed optimism about the potential longevity of the cryptocurrency market, particularly noting the significance of major financial institutions showing interest, such as the case with the Blackrock Bitcoin ETF.
Billionaire investor David Rubenstein, known for co-founding The Carlyle Group, has shown strong faith in Bitcoin.
He cited the significance of financial giants like Blackrock seeking to establish a spot ETF for Bitcoin. Rubenstein suggested that if a powerful player like BlackRock is considering a Bitcoin ETF, it could signify Bitcoin’s lasting presence.
This echoes the widespread belief in the crypto world that “Bitcoin is here to stay.” During an interview with Bloomberg, Rubenstein highlighted that established companies like Blackrock are taking Bitcoin seriously, despite some people ridiculing the cryptocurrency market.
Carlyle Group Supports Bitcoin?
When questioned by Bloomberg reporters about whether The Carlyle Group was shifting its stance to support the leading cryptocurrency, Rubenstein indirectly dismissed the notion. However, he did mention that he regretted not buying Bitcoin when its price was approximately $100, similar to Galaxy Digital CEO Mike Novogratz.
Rubenstein noted that individuals like Novogratz, who purchased Bitcoin at $100 or lower, profited significantly as the BTC price surged to as high as $69,000.
Moreover, Rubenstein indicated that beyond the United States, there’s considerable global interest in the cryptocurrency market, despite reservations from certain lawmakers and the U.S. Securities and Exchange Commission (SEC).
“I believe Bitcoin and other popular cryptocurrencies will remain relevant. Many people worldwide are intrigued by a currency that offers privacy in transactions, keeping them shielded from government oversight.”
Despite noting that the collapse of FTX in November 2022 had a negative impact on the crypto sector, Rubenstein acknowledged a widespread desire for the ability to trade in a currency beyond government oversight.
He also shared that SEC Chair Gary Gensler’s efforts to portray cryptocurrencies as risky haven’t gained traction, pointing to Gensler’s recent legal setback in the Ripple XRP case.
Important:Ā Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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